TESSCO Augments IoT Product Portfolio With Inseego Tie-Up
TESSCO Technologies Incorporated TESS recently announced that it has collaborated with Inseego Corp. INSG to provide customers with high-quality modems and routers for a seamless industrial and enterprise IoT network connectivity infrastructure. The latest addition of Inseego’s best-in-class IoT solutions is expected to deliver a secure and reliable communications network to TESSCO clients, thereby reducing complexity and enhancing profitability for its day-to-day business operations.
Based in San Diego, CA, Inseego is an industry forerunner in intelligent IoT and 5G solutions that enable high performance mobile applications for service providers and large-scale enterprise verticals. Specifically designed to power mission-critical applications with a ‘zero scheduled downtime’ mandate, its robust product portfolio consists of USB modems and Enterprise Software-as-a-Service solutions that form the backbone of compelling and reliable IoT services with profound business intelligence. Established companies like Verizon Communications Inc. VZ, T-Mobile US, Inc. TMUS, and TELUS Corporation are some of Inseego’s service provider partners.
Per the collaboration, TESSCO will offer Inseego’s IoT modems as well as IoT gateways and routers. Notably, Inseego’s Skyus series of modems is considered an ideal connectivity solution that provides multi-carrier support and addresses high-performance needs with greater scalability in diverse environments. Meanwhile LTE solutions are primarily designed to support various devices with a dedicated portable Internet connection. The strategic partnership is likely to develop TESSCO’s long-standing relationships with other major players in the global market, thereby ensuring a steady revenue stream in the long run.
Recently, TESSCO teamed up with Radio Frequency Systems, a global designer of total-package solutions for wireless and broadcast infrastructure to provide its customers with the DragonSkin coaxial cable. TESSCO supplies more than 50,000 products from 400 of the industry’s top manufacturers in mobile communications, Wi-Fi, IoT and wireless backhaul, among others.
Moving forward, TESSCO expects to record growth in the business in fiscal 2021 with a healthy balance sheet position. While undertaking various initiatives to slash operating costs, the company continues to advance its strategic initiatives by investing in its Ventev business, commercial sales and product teams, software and service initiatives as well as other technological advances.
TESSCO is well placed to capitalize on the exponential growth of the industry. It is undertaking measures to improve profitability in the long term. Shares of TESSCO have lost 12.5% against the industry’s growth of 12.4% in the past three months.
TESSCO currently has a Zacks Rank #4 (Sell).
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